Satchells Top 10 Tips for Letting Your Home

With almost 100 years of property experience there’s nothing we don’t know about property sales and lettings.

At Satchells, we understand that as a landlord, your aim is to secure high quality, long term tenants, who are ready to move into your property. So, if you are thinking of letting your property, we can provide you with the best tips to ensure your experience as a landlord is a smooth one.

As our experienced Lettings Manager Ben Reddan says:

“Like in any industry, the range of knowledge, experience, services and protection each Agency offers varies dramatically. By choosing Satchells, you secure the full range of professional services and protections from a long-established Agency. It is vital that any Landlord employs the right Agent to work for them and one that has the right marketing strategy too. My priority is to consistently exceed my client’s expectations whilst maximising the value of their investment. We have a large team who all work together and share the same goal of delivering a service where our clients can feel that they are in good hands.”

1. Set the Right Price for Your Rental Property

If you price your rent too low, you risk attracting the wrong calibre of tenant, who may not respect your home. However, if you value your home too high, there is the danger your property will sit empty for months which is not ideal.

Satchells will conduct thorough market research in your area and consider the monthly cost properties of a similar style and location are currently attracting. We will then value your rental property accordingly.

2. Make an Inventory of Your Property

An inventory will detail the full contents of your rental property, including any current damages or defects, and are particularly important for furnished properties. An inventory will help you evaluate your property's condition when your tenants vacate and provide clear evidence should you need to withhold any part of the deposit.

Satchells will employ a third-party independent inventory clerk to conduct the inventory prior to the tenancy starting. The benefit of using a third-party is that it removes any element of Satchells being biased towards either the tenant or the Landlord should there ever be the need for arbitration.

3. Consider Your Insurance

While landlord insurance is not a legal obligation, many buy-to-let mortgages require it. Typically, landlord insurance will provide cover for the building and fixtures. If you are letting your property furnished, contents insurance can be added for an extra annual charge.

Satchells sales and financial services departments can advise you on all aspects of your mortgage and assist you with insurance requirements.

4. Improve the Exterior of Your Property

Most tenants will pass by your property before booking a formal viewing to find the location and to see what it looks like! Your property must stand out, and therefore needs to be well maintained, especially in a saturated rental market to help you secure the best tenants.

Small fixes can make a big difference, for example, replacing broken tiles, cleaning the windows and tidying the front garden.

If you are looking to buy to let and don’t currently own a property, Satchells can help you decide on the best type of property to ensure ease of rental. We are also happy to advise you of potential improvements you could make to the exterior of your current property to help attract tenants.

5. Know Your Legal Obligations

It’s important you ensure all of your legal responsibilities are met before tenants move in. These include obtaining gas and electrical safety certificates and an energy performance certificate amongst other responsibilities.

Satchells full property management service will help you organise all of these essentials and can provide you with recommended suppliers.

6. Complete All Outstanding Maintenance

Although it’s frustrating to spend money before you even have tenants through the door, completing all those niggly jobs now will save you money in the long run. Tenants are willing to pay more for a home finished to a high standard and when they see a home that is loved and cared for, they will quickly appreciate the value. Additionally, it is much easier to carry out work on an empty property than one with tenants in situ!

Satchells have built up some fantastic working relationships with experienced contractors and can help you ensure all those little jobs get done!

7. Collect and Register Deposits

Every renter will expect to pay an upfront sum at the start of their tenancy. This money is your safeguard against potential damage not considered general wear and tear to your property and can be used when the tenant vacates if required.

A deposit can be up to the value of five weeks rent and must be placed in a government-backed scheme within thirty days of payment, so is never held by you or your property management company.

Satchells will arrange deposits from tenants and carry out periodic inspections throughout the tenancy, to minimise the risk of damage to your property.

8. Always Stick with Neutral Décor

It’s always best to provide a blank canvas to attract the broadest range of tenants. If the property has been your home, it can be difficult to detach yourself from it, switching to a business mindset. However, this is essential to be a successful landlord. Neutral décor allows the new occupiers to put their stamp on the home, should they become long term tenants.

At Satchells, we know exactly what tenants want and like! Speak to us for essential tips on how to make your rental property appealing.

9. Make Sure You Keep Good Tenants

If you have tenants who take good care of your property and pay on time each month, it really goes without saying that you should do your best to keep them. Finding new tenants can be stressful and expensive, so consider offering incentives for great tenants to renew their agreements. This could be a reduction in rent or guaranteed regular upgrades to the property.

Satchells can help you find the very best tenants. Our years of experience and wide range of marketing ensures we reach the highest number and very best potential tenants for all our landlords.

10. Find the Right Agent

The most important point! A reliable lettings agent can take all the hassle of being a landlord away from you. For a more hands-on approach, you may employ an agent to help you with finding a tenant, then, once a tenant is secured, you handle the rest. Alternatively, you may choose to hand full control over to an agent and go for a full property management service.

Satchells offer both a finding service and complete property management packages. We can deal with as much or as little of your rental as you require.

We can create a bespoke package to suit your requirements and will always work with you to resolve any problems. Our aim is to find and get tenants moved in within your desired timeframe.

Call the Satchells team on 01462 410394 or email us at salesadmincentre@satchells.co.uk